Everything is getting complicated for Elon Musk who is selling $7 billion worth of Tesla shares!

Tesla and Spacex CEO Elon Musk sold 7,924,107 shares of Tesla stock, according to a filing with the U.S. Securities and Exchange Commission (SEC) Tuesday night. The transactions took place on August 5, 8 and 9.

Elon Musk confirmed on Twitter that he is no longer selling Tesla stock, in response to a tweet from a Tesla investor. The billionaire added: “In the (hopefully unlikely) event that Twitter forces this deal *and* some financial partners don’t show up, it’s important to avoid an emergency sale of Tesla stock.

Musk also said that if the Twitter deal doesn’t go through, he will buy back Tesla shares

In May, the billionaire revealed that he had secured funding from 18 companies to buy Twitter, including Sequoia Capital Fund, Binance, AH Capital Management (aka Andreessen Horowitz, a16z) and Fidelity.

Read:  NATO calls on Serbia and Kosovo to avoid tensions, insists its mission is ready to intervene

Elon Musk doesn’t sell Tesla stock often. Before the latest deals, he sold 9.6 million Tesla shares in April, worth about $8.5 billion at the time. After that sale, the Tesla and Spacex boss tweeted on April 28 that he had “no other TSLA sales planned.

Elon Musk made an offer to buy Twitter for about $44 billion in April. However, the billionaire officially pulled the plug on the deal in early July, stating that “Twitter is in material breach of several provisions of that agreement.

Read:  Drug trafficker may have been the target of attack on Mexican city hall that killed 20 people

Twitter sued Musk to force him to continue the deal. The Tesla CEO has filed a counter-suit against Twitter, accusing the social networking giant of fraud. At the heart of the dispute is Twitter’s claim that less than 5 percent of its daily users are fake or spam accounts. Musk disagrees and challenged Twitter CEO Parag Agrawal in a public debate about the platform’s bot and spam users.

In response to a tweet asking if he had considered creating his own social platform if the Twitter deal didn’t go through, Musk wrote: “X.com“.

The Best Online Bookmakers June 20 2024

BetMGM Casino

BetMGM Casino

Bonus

$1,000